To strengthen our strong analytics and data science team with deep data warehousing expertise. Altair Engineering Co., Ltd. ALTR has acquired Cambridge Semantics.
Cambridge Semantics is a modern data fabric provider, creating one of the industry’s leading analytical graph databases. Graph-powered data fabric technology simplifies the creation of comprehensive enterprise knowledge graphs by consolidating complex webs of structured and unstructured enterprise data into one place.
Cambridge Semantics’ transformative knowledge graph technology will be integrated into Altair’s RapidMiner platform. This adds knowledge graph, data governance, data virtualization, and data discovery technologies to Altair’s existing data preparation, ETL, data science, business intelligence, MLOps, workload management, and orchestration tools.
This agreement will help organizations build a solid foundation for an advanced analytics ecosystem that embeds artificial intelligence (AI) into daily business operations.
Acquisitions on the rise: benefits
Altair’s products, services and business model have driven market share growth. Altair continues to evolve its product portfolio by combining sustainable and disruptive innovations. We are also encouraged by our strategic investments in engineering AI, aggressive acquisitions, and strong product demand.
Acquisitions are an important part of Altair’s strategy to complement organic growth and broadly diversify its overall portfolio. From 1996 to 2023, Altair acquired 51 companies or strategic technologies.
In 2023, the company acquired OmniQuest, a Michigan-based optimization software company, and OmniV Technologies from XLDyn, LLC. OmniQuest’s flagship product, Genesis, extends Altair’s leadership in lightweight, structurally efficient design around the world. Meanwhile, OmniV, a vendor-neutral MBSE requirements management solution, enhances Altair’s ability to engage in projects involving digital twins, simulation data management, and engineering data analysis.
The global leader in computational intelligence ended 2023 with record revenue and profits. Total revenue increased 7.1% in reported currencies and 8.2% in constant currencies. Adjusted EPS increased 27% from 2022 levels.
For 2024, we expect sales to increase in the range of 8.2% to 9.8% year over year.
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In terms of stock price performance, Altair has gained 34.9% over the past six months. This compares to a 30.8% rise in the Zacks Engineering – R and D Services industry.
Earnings estimates for 2024 have increased from $1.11 per share to $1.28 per share over the past 60 days. This represents a 13.3% year-on-year increase and analysts’ optimism regarding growth potential.
Zacks Rank and other important picks
Altair currently has a Zacks Rank #2 (Buy).
Other top stocks in the same space include:
Wildan Group Co., Ltd. WLDN currently sports a Zacks Rank #1 (Strong Buy). WLDN delivered an impressive 886.3% average return for the fourth quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimates for WLDN’s 2024 revenue and earnings per share (EPS) are pointing to growth of 3.9% and 3.4%, respectively, from the year-ago period.
Starling Infrastructure Co., Ltd. STRL currently sports a Zacks Rank #1. Starling Infrastructure’s Q4 earnings surprise averaged 20.4%.
Giken’s 2024 Zacks Consensus Estimates for revenue and EPS are pointing to increases of 11.7% and 11.4%, respectively, from year-ago levels.
Mtron Industries Co., Ltd. MPTI currently carries a Zacks Rank #2. Of the subsequent four quarters, he exceeded earnings estimates in two, met once and missed once, with an average surprise of 24.7%.
The Zacks Consensus Estimates for MPTI’s 2024 revenue and EPS indicate growth of 10.3% and 57%, respectively, from year-ago levels.
(This article is being republished to correct an error. The original article, published on April 19, 2024, can no longer be trusted.)
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